Musk becomes richer by 12 billion dollars in one night!

Elon Musk probably chose the right side. Donald Trump being almost certain to be the new president of the United States, Tesla shares soar: Musk earns 12 billion dollars in one night.

Elon Musk, known as the richest man in the world, has seen his fortune increase significantly following recent developments in American politics, as “Bild” writes. The entrepreneur, who supported Donald Trump during the electoral campaign, can look forward to a big jackpot. The results of the US election campaign sent Tesla shares soaring.

Speculation about a possible Trump victory sent Tesla stock up an impressive 15 percent outside of regular trading hours.

On Wednesday morning, Tesla’s share price reached 261.65 euros, which increased the company’s value from 93 billion euros to 715.4 billion euros. Musk’s 13% stake in Tesla represents an increase of around 12 billion euros in a single night.

Musk supports Trump in his election campaign

Musk invested $75 million in Trump’s election campaign, which turned out to be an extremely lucrative move. Trump praised Musk in his victory speech, underscoring the close bond between the two men. Musk himself was enthusiastic about the outcome of the election and expressed optimism about the future.

While Tesla is publicly traded, the values ​​of Musk’s other companies such as SpaceX, The Boring Company and social network X (formerly Twitter) remain unclear because they are not publicly traded. Nevertheless, SpaceX could benefit from new government contracts.

Cryptocurrencies are gaining massively in value

Bitcoin in the Trump craze: the best-known cryptocurrency has surpassed its previous record of $73,797.98, reached in March. This increase was fueled by the prospect of a relaxation of regulations in the event of Donald Trump’s victory in the American presidential elections which were held on Tuesday. The Republican presidential candidate announced that he wanted to “make America the crypto and bitcoin capital of the world.” He also said he would be “the pro-innovation, pro-bitcoin president America needs.”

Trump thus stands out from the administration of American President Joe Biden, who is in favor of regulating cryptocurrencies. These allow digital payments without them being controlled by banks.

The value of cryptocurrencies such as Dogecoin, Solana and Sui is also increasing. As of Wednesday morning, Dogecoin is temporarily at 0.214, representing an increase of 15 percent. Previously, it stood at 0.166.

Solana is up 12.5 percent in the last 24 hours. As of Tuesday, Solana was still worth $161.12 per coin. In the early hours of Wednesday morning, the cryptocurrency was trading at a value of $188.29 per coin.

The Sui cryptocurrency recorded a rise of 13.5%. The lowest value in the last 24 hours was $1.91 per coin. Sui’s peak value was $2.34 per coin.